CROX Long Setup [UPDATE]
Regardless of the recent downgrade by CL King from buy to neutral, CROX is still holding its channel. The recent drop allowed the 20dma to catch up, bringing in a new level of support for CROX. Furthermore, seasonal earnings on 07/30 should help generate hype around the ticker and bring in new investors.
Going into the next few days, the 100dma looks ready to coil up and we're about to be presented with a golden cross on the daily - a historically good sign. If CROX can break and hold above confluence near $37 resistance, price target is $43. Despite recent market weakness, it's holding its channel well with an imminent golden cross as the 50dma looks to cross the 200dma.
Holding its uptrend, lets see if it can break relative highs that have acted as resistance in the past.
Going into the next few days, the 100dma looks ready to coil up and we're about to be presented with a golden cross on the daily - a historically good sign. If CROX can break and hold above confluence near $37 resistance, price target is $43. Despite recent market weakness, it's holding its channel well with an imminent golden cross as the 50dma looks to cross the 200dma.
Holding its uptrend, lets see if it can break relative highs that have acted as resistance in the past.
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